Torrent Pharma to acquire JB Pharma from KKR at ₹25,689 cr valuation

Torrent Pharma will acquire KKR's 46.39% stake in JB Pharma followed by open offer and merger, strengthening chronic segment and CDMO footprint in India and abroad

In one of the largest pharmaceutical deals in India in recent years, Ahmedabad-based Torrent Pharmaceuticals will acquire a controlling stake in investment firm KKR-backed JB Chemicals and Pharmaceuticals (known as JB Pharma) at an equity valuation of ₹25,689 crore.

 

This will be followed by the merger of the two entities.

 

The deal will be executed in two phases: First the acquisition of the 46.39 per cent stake of KKR in JB Pharma at ₹1,600 per share, amounting to ₹11,917 crore, and then a mandatory open offer to acquire up to 26 per cent of JB Pharma shares from public shareholders